Supriya Lifescience appoints Rajeev Kumar Jain as CEO -; KMP; stock tumbles ~5%

28 Sep 2022 , 09:29 AM

Supriya Lifesciences Limited informed that Shireesh Ambhaikar, Chief Executive Officer and a Key Managerial Personnel of the company, has resigned from the position due to his personal reasons and requested, inter alia, for acceptance of his resignation. The company has agreed to relieve him by September 30, 2022.

The Board of Directors authorized the appointment of Rajeev Kumar Jain as Chief Executive Officer and Key Managerial Personnel of the Company in its meeting held on September 27, 2022. He will join the company on October 3, 2022, to lead Supriya to the next stage of its growth path.

Shireesh Ambhaikar, on the other hand, has agreed to extend his services on a retainership basis for a period of two (two) years beginning October 1, 2022, where he will be designated as Technical Head for certain projects to ensure timely execution, knowledge transfer, and a smooth transition to his successor, who will join the company on October 3, 2022, said the company in its filing.

Rajeev is a seasoned expert with over 35 years of experience in manufacturing, general management, and business who has worked in prominent corporates in the API sector.

At around 9.34 AM, Supriya Lifescience was trading at Rs305.60 down by 4.93% from its previous closing of Rs321.45 on the BSE. The scrip opened at Rs310.20 and touched intraday high and low of Rs314.95 and Rs304.40 respectively.

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